Cattle

The most recent Cold Storage report confirms the shrinking frozen beef supply, The Hightower Report said. “This may not be enough to turn the market higher,” they said.

Oliver Sloup of Blue Line futures posits that the top in the cattle market may be in, with long liquidation being the biggest market concern. “There doesn't need to be a black-swan event or even bearish headlines. It could just be a stall out of Bullish headlines.”

Outside markets

Stocks: September E-mini S&Ps this morning were down 0.23% this morning. Early this morning in Europe, the Euro Stoxx 50 was down 1.79%, France’s CAC 40 was down 2.13%, Germany’s DAX Index fell by 1.24% and London’s FTSE 100 was down 0.74%. In Asian markets, Shanghai’s Composite Index fell 0.26% overnight, while Japan’s Nikkei Stock Index finished down 0.04%.

Currencies: Early today the dollar index was down 0.12%, EUR/USD was up 0.10% and USD/JPY was down 0.40%.

Energy: September WTI crude oil prices this morning are down 77 cents (0.97%), and September gasoline is up 0.93%.

Daily Ag News and Market information from across the midwest.

Boxed beef cutout values this afternoon were lower on Choice and higher on Select, the USDA said.

Boxed beef cutout values this afternoon were lower for both Choice Select, USDA said.

Boxed beef cutout values this afternoon were lower on Choice and higher on Select, the USDA said.

Boxed beef cutout values this afternoon were up significantly on Choice and also higher, USDA said.

The market is still trading last Friday’s bearish Cattle on Feed report, but supply is still tight, The Hightower Report said. “A key support …